Klaviyo stock is a hot topic among traders as investors prepare for the global technology company’s initial public offering ().
Let’s get into all the details about the Klaviyo IPO below!
What to Know About the Klaviyo IPO
- Klaviyo is looking to go public this week with an updated filing with the U.S. Securities and Exchange Commission (SEC) providing further details on its plans.
- That includes the company offering its shares on the New York Stock Exchange under the KVYO stock ticker.
- Investors will also note that Klaviyo is seeking to price shares of its stock between $27 and $29.
- That’s good news for the company as it’s an increase over its prior IPO range of $25 per share to $27 per share.
- With this new IPO range, investors could see the total valuation of Klaviyo reach $8.6 billion.
- Another interesting tidbit that traders will want to keep in mind is Shopify (NYSE:SHOP) holding an 11% stake in the company.
- Adding to that is Shopify customers making up about 75% of Klaviyo’s yearly recurring revenue in 2022.
Klaviyo joins a growing list of tech companies that are going public through IPOs recently. For example, Instacart parent company Maplebear (NASDAQ:CART) hit a valuation of $9.9 billion with its IPO yesterday. That came in at the top of its IPO range.
Semiconductor company Arm (NASDAQ:ARM) also recently listed its shares on a public exchange. It’s debut was a major event for the market with investors watching following its debut. The effects of inflation and rising interest rates have weighed on tech stocks these last couple of years, which is why traders are closely watching these recent tech companies going public.
Investors seeking out even more of the most recent stock market news will want to stick around!
We have all of the biggest stock market stories that traders need to know about on Tuesday! A few examples include what’s going on with shares of Rocket Lab (NASDAQ:RKLB), Nikola (NASDAQ:NKLA) and Nio (NYSE:NIO) stock today. All of that info is available at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.